Basic rate for assessment of pension plans (November 2021)

The Assessment of Pension Plans Regulations require the Superintendent to publish annually in the Canada Gazette, Part I, a notice setting out the basic rate that will be applied to the assessment of pension plans in the upcoming fiscal year.

A notice was published in Part I of the Canada Gazette on September 25, 2021, setting out that the basic rate in effect for assessments that are invoiced by OSFI for plan years ending between October 1, 2021 and September 30, 2022 is $10. This basic rate is the same as last year’s rate and applies to all pension plans registered under the Pension Benefits Standards Act, 1985 and the Pooled Registered Pension Plans Act.

Please refer to the Pension Plan Assessment Rate schedule on our website for more information on the applicable rate.

Since April 1, 2019, pension plans are no longer required to calculate their own plan assessment. OSFI determines the assessment due for a pension plan and sends an invoice after the due date of the plan’s Annual Information Return (AIR) or, where applicable, after having received an application for registration. OSFI expects to prepare the invoice approximately 45 days after determining the assessment, e.g. approximately 45 days after the due date of the AIR. We ask that you please wait to be invoiced rather than sending the assessment along with an application for registration or the AIR.